In spite of the fact that the Central Bank of Azerbaijan (CBA) has created an opportunity to issue daily loans to non-bank credit organisations ( NBCOs) in 2024, it is not interested in the rapid development of this type of lending.
This was stated by CBA chairman Taleh Kazimov on 22 January at a press conference on the decision of the structure he heads over parameters of the interest rate corridor.
‘Daily loans pose a serious risk for both financial consumers and financial structures,’ he said.
It is worth reminding that in keeping with the CBA-approved ‘Rule on Management of NBCO credit risks’, credit institutions were allowed to issue daily loans in the national currency in the amount not exceeding AZN 500, with a daily interest rate not exceeding 0.3% and maturity not exceeding 45 days.
Finance
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Amount of notes issued by the Central Bank of Azerbaijan (CBA) went down 6.3 times in 2024.This is reported on the structure's website.
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By the end of 2024 there were about 150,000 bank depositors in Azerbaijan.
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‘Kapitalbank’ will hold an extraordinary general meeting of shareholders on 25 February at 11: 00.
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